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Advertising: Is it still doing its job?

Submitted by Mitch Seigel on Tues, 9/23/2014

Every day the market becomes more splintered, if for no other reason than there are increased websites daily. Over years several new advertising options have appeared, yet the old stays true to course. The fact is that if advertising vehicles do not work, they go out of business, plain and simple.

It may take longer for some to go out of business than others, but eventually that’s where they end up. On the brighter side, since more and more avenues have been made available, especially with new technology introduced in the last twenty years or so, the departure of some media has not interfered with the overall growth. More ad dollars are being spent and advertising is healthy.

To make sure it is doing its job for you, the selection process needs to be accurate and very precise. It is so easy to waste money on advertising. If you do your homework, you will probably be in the 80 per cent range of success. There are no guarantees. You can’t control many variables, and that will continue into the future.

If you are unsure of your advertising selections, hire a professional either internally or as an outsourced resource, to minimize the risk. That’s way better than guessing. Make alterations in what you do at least quarterly, if not sooner. Set up a matrix to determine your results and stick to it.

Yellow pages and newspapers have changed drastically over the years. Radio and TV have had to alter how they are helping businesses due to new media pressures. Even new media face increased pressures within their own silo, never mind from the rest of the media available. In any case, advertising is alive and well, and yes, is still doing its job!

What are your challenges when it comes to determining advertising methods for your business? I look forward to hearing your comments. Until next time...